1380 W Mississippi Ave - Apartments FOR SALE


Denver, CO 80223- Ruby Hill
$3,720,000 USD
303-481-2875
1380 W Mississippi Ave, Denver, CO for Sale
$3,720,000 USD
Apartments - FOR SALE
1/31
null | 6.69% Cap Rate

1380 W Mississippi Ave
Denver, CO 80223
Ruby Hill


HIGHLIGHTS

  • Prime South Denver location with direct access to South Broadway, Federal Boulevard, Santa Fe Drive, Alameda Avenue, and I-25
  • Major systems & capital expenditures already completed (new windows, newer roof, upgraded electrical panels, refinished parking lot, fencing, & stairs
  • Well-positioned asset in a growing submarket benefiting from infrastructure investment along Mississippi, Federal, and the South Broadway corridor
  • In-place cash flow already strong with clear path to increase NOI through continued interior renovations on the un-renovated portion of the unit mix
  • Located within Denver's Southwest Area Plan, which will provide 20 years of public investment in housing, transit, parks, major corridors, etc

OVERVIEW

The Riverpoint is a 24-unit multifamily property at 1380 W Mississippi Avenue in Denver's Ruby Hill submarket. The unit mix consists of 17 one-bedroom and 7 two-bedroom apartments across a thoughtfully maintained 1982 building located within blocks of Overland Golf Course, the South Platte River trail system, and the South Broadway retail corridor. The asset offers a rare combination of newer vintage construction, completed capital improvements, and durable in-place cash flow. The Riverpoint, built in 1982, is fundamentally different from competing product in the immediate area, which is overwhelmingly pre-1970s vintage with original mechanical systems and unrenovated unit interiors. Ownership has already invested across the major systems and exterior components that drive tenant retention and long term capital exposure. Upgrades include new windows, a newer roof, upgraded electrical panels, a refinished parking lot, new perimeter fencing, and rebuilt exterior stairs. This creates a passive, capex-light asset on day one, driven by consistent tenant demand, historically high occupancy, and limited turn costs. In-place cash flow is already strong, while the unrenovated portion of the units provides a clear path to additional NOI growth. The Riverpoint sits approximately one mile west of Denver Summit FC's new Santa Fe Yards stadium, scheduled to deliver in 2028, and roughly three miles south of Burnham Yard, the Broncos' proposed site for a new stadium and 100+ acre mixed-use district targeting a 2031 opening. The property also sits within the boundaries of Denver's Southwest Area Plan, adopted by City Council in March 2026 to guide 20 years of public investment in housing, mobility, parks, the South Platte River corridor, and the Federal Boulevard commercial spine across the immediate submarket. Combined with a Denver multifamily supply pipeline strongly contracting, The Riverpoint offers a rare opportunity to acquire a stabilized, capex light, vintage advantaged asset at the front edge of a recovering Denver rent cycle.

FOR SALE DETAILS

PRICE

$3,720,000 USD

PRICE/SF

$232 USD /SF

# OF UNITS

24

PRICE/UNIT

$155,000

CAP RATE

6.69%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Riverpoint Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1982

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,515 SF

ZONING

R3, Denver

APN/PARCEL ID

5211-06-023

ASK ABOUT THIS PROPERTY

Andrew VollertKaufman HaganMore Info
303-481-2875

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Andrew VollertKaufman HaganMore Info
303-481-2875

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.